Yen surges in inter-bank trade as Greeks vote ‘No’

FXStreet (Bali) – The Japanese Yen, just as it happened last week after the surprising Greek banks closure announcement, is surging across the board as a huge sense of ‘risk aversion’ has emboldened traders to buy the safe haven asset at the Sydney open, with retail platforms not to open for another 1h 45/50m.

USD/JPY has been hammered more than 1 full cent from 122.80 NY close to reach its inter-bank lowest level at 121.70, with further room to fall now (technically speaking) until the 121.50 mid round number and horizontal support (as per mid June levels) is encountered. A break lower would then expose 121.00 (last week’s low).

The Japanese Yen, just as it happened last week after the surprising Greek banks closure announcement, is surging up across the board as a huge sense of ‘risk aversion’ emboldens traders to buy the safe haven asset at the Sydney market open, with retail platforms not to open for another 1h 45/50m.

(Market News Provided by FXstreet)